Stock-Based Compensation

3 Months Ended

Mar. 31, 2023

Stock-Based Compensation

Stock-Based Compensation

9. Stock-Based Compensation

Under the Company’s 2020 Stock Incentive Plan, which replaced the Company’s 2012 Equity Incentive Plan in December 2020, the employees, directors and consultants of the Company are eligible for grants of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards (“RSA”), restricted stock units (“RSU”), performance awards (“PRSU”), and other stock awards, collectively referred to as “Awards”.

Stock-based compensation expense for the three months ended March 31, 2023 and 2022 is $6.9 and $5.9 million, respectively.

Detail related to stock option, RSU and PRSU activity for the three months ended March 31, 2023, is as follows:

			Number of
		Number of	Performance
	Number of	Restricted	Restricted
	Options	Stock Units	Stock Awards
Balances as of December 31, 2022	3,862,918	5,309,241	920,924
Granted	—	123,292	301,598
Vested	—	(295,414)	—
Exercised	(4,519)	—	—
Forfeited, canceled or expired	(123,265)	(143,132)	—
Balances as of March 31, 2023	3,735,134	4,993,987	1,222,522